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Topanga, CA 90290 | March 2014 Home Sales and Real Estate Market Statistics

Topanga Canyon Real Estate Market for March and the First Quarter of 2014:

There were 42 Total Topanga Homes for Sale

  • 32 in Active status*
  • 7 in Looking for Backup (Contingency) Status
  • 9 in Pending Status
  • 2 in Hold Status

There were 10 Topanga homes Sold in March 2014

  • Lowest sale price  $489,500
  • Highest sale price $2,600,000
  • Average selling price to Average Listing price 96.6%
  • Homes sold in 1st Quarter 2014 – 22

Average Days on Market for March 2014

  • Active homes – 83
  • Backup – 107
  • Pending – 69
  • Sold – 80

This puts the numbers slightly ahead of sales for First Quarter 2013 in which 20 Topanga homes were sold.  We did have a slow start to listing inventory for Spring 2014 season, but the market is really jumping now.  Three more homes closed in the first half of April.

Well priced, desirable homes are coming on the market and going into escrow quickly at or above list price. There are buyers who have been shopping in Topanga for a while who are desperate for new inventory.  The market is looking good for sellers with some great comparable properties set to close within the next month or so. Appraisals should be well supported on an accurately priced home going into the summer. Buyers have heard the news reports stating that mortgage rates will be rising towards the end of the year.

If you would like to discuss the Topanga Home Market and get an accurate report on your home’s value, please call me right now. Topanga Canyon is beautiful in Spring – your house will look great!

Elaine Hanson 310-924-1032

*I should mention that I left out the home at the North end of the canyon which is priced at $15.99 million. It is a singular estate that skews the statistics.

Attention Topanga Home Sellers – Buyers Need Your Homes!

The 2013 Topanga Real Estate Market is starting out strong. Buyers are feeling confident that the market is in recovery and they are actively searching for their next home. The problem is, there are not a lot of homes from which to choose. This last year, homes that were coming on the market properly priced were receiving multiple offers. The activity began in the lower dollar markets and we are now seeing it roll up to the higher priced markets. Buyers with great credit are finding financing and BUYING!

The  Topanga 90290 2012 inventory level of homes for sale declined sharply throughout 2012. If you would like to sell your home, call me to discuss our Topanga Market conditions in detail and to get a thorough Market Analysis of your home’s value.  I’ll help you with each step – from advising you how to prepare your home to be show ready for buyers through to a successfully closed transaction. Let’s talk!

California Median Home Prices – How’s the Topanga Home Market?

California Home Prices very from region to region. Here is an interesting look at the median prices of homes for sale in the state. According to the California Association of Realtors, home affordability has risen to 56%. Welcome news after seeing periods of less than 30% of people able to buy a home at the height of the market frenzy. Our Topanga Home Market has been very busy, but the lack of inventory is a bit frustrating for buyers – and there are many buyers searching for homes right NOW. If you are wondering if now is a good time to sell, the answer is YES!!

Would you like a personalized Market Analysis for your home? I’d be happy to give you a report.
California Home Prices

Topanga’s Real Estate Market is Gaining Steam

The enjoyable spell of warm weather we are having is not the only thing that has heated up in Topanga. The real estate market has moved into high gear.  Since February first, we’ve had 17 new listings hit the market. Big news? Considering that Topanga’s average number of active listings circles right around 70 active homes for sale, that is a big chunk.

But that’s not all.

Along with new listings just entering the market, 16 homes have entered escrow and are in either Looking for Backup or Pending status.

Nice.

Along with the numbers on the MLS, there has been an upsurge in active buyers cruising through open houses and showing tours.  Considering we are not even quite halfway through March, it’s a good sign for our spring-summer season.

If you would like a personalized market report for the type of home you are looking for, or an evaluation of your own home, give me a call.

 

 

Topanga’s Inventory of Homes for Sale is Rising

The inventory of homes for sale in the Topanga market is rising as we move towards the Spring market.  More choice is great news for home buyers.

You can see what is currently on the market using the Discover Topanga Home Search.  It’s an easy way to search homes for sale in Topanga, Malibu, Woodland Hills and more. You can save searches or sign up for auto-notification of new listings. Check it out – I think you will like it.

Topanga Market Report

So, how’s the Real Estate Market in Topanga?

Median Price for Single Family Homes as of this First Week of March

Real Estate Market Chart by Altos Research www.altosresearch.com

Our median price is just a bit above $1,125,000

Prices for currently active single family homes range from $288,900 to $3,799,000

  • 69 Active
  • 4 Looking for Backup
  • 8 Pending

12 homes have sold so far in 2010

For more information, contact Elaine Hanson, Realtor  310-924-1032